Analysts Offer Predictions for Marathon Oil FY2024 Earnings

Marathon Oil Co. (NYSE:MRO) – Research analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for Marathon Oil in a note issued to investors on Tuesday, November 19th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas producer will post earnings of $2.32 per share for the year, down from their previous forecast of $2.37. The consensus estimate for Marathon Oil’s current full-year earnings is $2.34 per share. Zacks Research also issued estimates for Marathon Oil’s Q4 2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.50 EPS, FY2025 earnings at $2.09 EPS, Q1 2026 earnings at $0.38 EPS, Q2 2026 earnings at $0.42 EPS and FY2026 earnings at $1.73 EPS.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis.

Several other research analysts have also recently weighed in on MRO. Scotiabank boosted their price target on Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. StockNews.com initiated coverage on Marathon Oil in a research report on Friday, November 15th. They set a “buy” rating for the company. Wells Fargo & Company reduced their price objective on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Truist Financial reduced their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Citigroup reduced their price objective on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.94.

Marathon Oil Stock Down 1.6 %

MRO stock opened at $28.47 on Thursday. Marathon Oil has a 1-year low of $21.81 and a 1-year high of $30.06. The business has a fifty day moving average price of $27.52 and a 200-day moving average price of $27.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.61. The stock has a market capitalization of $15.92 billion, a P/E ratio of 12.41 and a beta of 2.16.

Marathon Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 15th. Marathon Oil’s payout ratio is presently 18.88%.

Insider Activity at Marathon Oil

In other Marathon Oil news, CEO Lee M. Tillman sold 256,591 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $29.07, for a total transaction of $7,459,100.37. Following the sale, the chief executive officer now directly owns 596,330 shares in the company, valued at $17,335,313.10. This represents a 30.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. The trade was a 33.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 382,693 shares of company stock valued at $10,964,251. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Marathon Oil

Several hedge funds and other institutional investors have recently modified their holdings of the business. HWG Holdings LP bought a new position in Marathon Oil in the second quarter worth approximately $26,000. Founders Capital Management boosted its position in Marathon Oil by 100.0% during the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Marathon Oil during the 2nd quarter valued at $29,000. Grove Bank & Trust boosted its position in Marathon Oil by 77.4% during the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Marathon Oil during the 3rd quarter valued at $36,000. 77.24% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Oil

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.